6 Best Cryptocurrency Payment Gateways & Processors for Canadians in 2024

1. EukaPay

EukaPay stands out as the premier crypto payment solution for Canadian businesses, offering a comprehensive and cost-effective way to accept cryptocurrency payments. It supports a wide array of cryptocurrencies (BTC, ETH, USDC, BCH, LTC, SOL, MATIC) and enables Canadian businesses to receive payments in their preferred fiat currency directly into their bank accounts.

With a competitive transaction fee of just 2%, EukaPay presents a more economical option compared to traditional credit card transactions, allowing Canadian merchants to retain a larger portion of their profits.

As an all-encompassing digital currency payment processor, EukaPay incorporates accounting and analytics features, facilitating the creation of invoices, receipt of crypto payments, and real-time transaction tracking. It offers flexibility in payment reception, in both dollars or stablecoins, and provides various payment methods including invoices, a "pay with crypto" website button, or physical terminal payments at retail locations.

EukaPay's conversion of crypto payments to fiat currency at the point of sale guards against market volatility, ensuring both merchants and customers are protected. Its non-custodial on and off-ramp solution allows for the easy exchange of dollars for cryptocurrencies via Interac e-Transfer, with the crypto purchased sent directly to the user's wallet.

The platform ensures the best exchange rates by aggregating multiple sources and offers a 20-minute window for completing transactions at a given rate.

Accepting payments is made simple with EukaPay’s app, which facilitates QR code generation for easy customer payment at service points, alongside customizable invoice creation for online transactions. It also allows for the creation of custom payment options for unique service fees or products.

EukaPay’s user-friendly dashboard offers a comprehensive overview of transactions, payments, and bank payouts, along with customization options for branding and security settings. EukaPay provides 24/7 support to address any issues.

Crucially, EukaPay is tailored to meet the specific regulatory requirements of the Canadian market, making it a secure and compliant choice for Canadian businesses looking to embrace cryptocurrency payments. This focus on compliance, coupled with its extensive features and user-centric design, positions EukaPay as the best crypto payment gateway for Canadian businesses.

2. NowPayments

NowPayments is another reputable digital currency payment gateway that allows you to accept payments in bitcoin, Ethereum, Litecoin, Dogecoin, Cardano and 50+ other altcoins. 

With NowPayments you can receive crypto payments straight to your wallet. They charge low transaction fees based on your monthly bitcoin received. Transaction fees are 0.4% for 100 BTC per month,0.45% for 50 BTC and 0.5% for 0-49 BTC per month. If you manage to reach the next threshold by the end of the month you will receive the difference. 

You can choose to charge your customer in crypto or fiat. If the customer pays in fiat, you can have that instantly converted to crypto, which gives you the flexibility of different payment options. 

While the transaction fees are low, keep in mind that if the currency your customer pays in is different to the currency you accept then there is 0.5% exchange fee. Fees to withdraw from crypto to fiat are 0.5% and fiat to crypto fees are 4%. So, if your customer pays you in crypto and you would like to withdraw that amount to fiat, you will have to pay a 0.5% fee in addition to the transaction fee, bringing your total up to 1%. 

When you need to pay partners, affiliates or other merchants, NowPayments lets you send crypto in mass payments for easy crypto payment processing. Enter the wallet addresses and NowPayments will send the crypto to all of them at the same time. 

Pros:

• 50+ cryptocurrencies supported
• Low transaction fees
• Mass payments available 
• 24/7 support
• Fiat to crypto invoices

Cons:

• CAD not supported for withdrawals
• High fiat to crypto fees
• 0.5% fee for withdrawals to fiat

3. CoinsPaid

CoinsPaid is a reputable bitcoin payment gateway that will allow you to accept crypto payments. With CoinsPaid, any online business can accept crypto as payment but choose to receive crypto or fiat. For example, the customer uses bitcoin to pay for their goods. You have the choice to either receive the bitcoin and you can hold it or pay your partners and affiliates with it. Or, if you prefer, when the customer makes their payment in bitcoin, the bitcoin is instantly converted to a fiat currency of your choice which is paid to you. 

With CoinsPaid, you can accept 30+ cryptocurrencies including bitcoin, Ethereum, Litecoin, Cardano and more. This digital currency payment gateway also works with WooCommerce and Shopify sites, so it’s perfect even for smaller businesses. CoinsPaid has a fixed transaction fee of just 1%, lower than Visa or Mastercard, which can charge up to 2% or more per transaction on their credit cards. There are no monthly fees or rolling reserves. The full amount in your wallet is available to withdraw at any time. 

CoinsPaid is also highly secure with each transaction monitored for fraud and suspicious activity. Customer funds are held in cold storage to prevent theft and it also undergoes yearly audits.

For all of these reasons, we think CoinsPaid is the best crypto gateway for accepting crypto payments. 

Pros: 

• 30+ cryptocurrencies accepted 
• Multiple fiat currencies including CAD
• Receive payment in crypto or fiat
• Free integration
• Auto crypto withdrawals over a certain balance
• Funds held in cold storage
• No monthly fees
• 1% Fixed transaction fee
• 24/7 customer support

Cons:

• None

4. Blockonomics

If you’re looking for a digital currency payment gateway that focuses on bitcoin payments then Blockonomics might be a good choice.

With Blockonomics, you can accept bitcoin or payments online or create invoices in fiat and receive bitcoin as payment. Bitcoin payments made to you online go directly to your bitcoin wallet. If you choose their invoicing option, their tool will adjust the bitcoin you receive based on market fluctuations so you always receive the correct amount.

Blockonomics is a simple bitcoin payment gateway for businesses looking to receive payments only in bitcoin. You don’t have to worry about multiple wallets or exchange rates to fiat. If you’d like to receive bitcoin as payment and keep the bitcoin without converting to fiat, then Blockonomics is the best crypto gateway for that.

Blockonomics also supports bitcoin cash payments.

Another great thing about Blockonomics is there is no complicated sign up process or KYC. Since you are not dealing directly with fiat you do not need to verify your account or even provide any personal details when creating your bitcoin invoice. You can get paid anonymously.

Blockonomics works with WooCommerce, Shopify, Prestashop, Magento, and other online stores, so it’s perfect for freelancers, small businesses, and anyone with a side hustle. 

Blockonomics charges a 1% transaction fee. That means if you select Blockonomics as your crypto gateway, you can receive payment cheaper than if you accept Visa or Mastercard. 

Pros:

• Receive bitcoin or bitcoin cash payments easily
• No KYC
• Receive bitcoin anonymously
• Generate fiat invoices and receive bitcoin
• Receive bitcoin online directly to your wallet
• 1% transaction fee
• Send bitcoin as a gift

Cons:

• Only two cryptocurrencies available

5. BitPay

Another digital currency payment gateway is Bitpay. Popular amongst many online and retail businesses, Bitpay is probably the most reputable and secure crypto payment processor. 

Suitable for any business, Bitpay offers payment buttons, hosted checkouts, invoices, and other tools to help you accept crypto payments. 

When a customer goes to pay for something on your website, they will see the generated wallet address where they must send their payment. Once they send their payment, Bitpay converts the crypto to your local fiat currency and then sends it directly to your bank account in two business days. 

You can also accept crypto payments with Bitpay in brick and mortar stores using the Bitpay checkout app. Customers only need to scan the QR code to pay. 

When it comes to settling funds in your bank account, there is a $2,500 minimum. 

If you choose to be paid in crypto instead, payment to your crypto wallet is made daily. The minimum settlements for crypto payments are 0.01 BTC, 0.01 BCH, 400 DOGE, 0.2 ETH, 20 GUSD, 20 USDC, 20 PAX, 20 BUSD, 20 DAI, 0.01 WBTC, or 20 XRP.

Bitpay has a number of plugins for various online stores. It supports Shopify, WooCommerce, Wix, Magento, Prestashop, Opencart and many more e-commerce stores. 

There are no monthly fees to use Bitpay and transaction fees are just 1%. 

If you’d like to generate invoices, you can do that too. Plus, you can send crypto to many addresses at once using Bitpay Send. Make payroll payments, pay partners and vendors any day of the week. Add funds to your account and Bitpay will send crypto to the people you select. 

Since Bitpay is secure, compliant, has many features and has a good reputation, we think it is one of the best cryptocurrency payment gateway for any business. 

Pros: 

• Transactions fees are 1%
• No monthly fees
• Highly reputable
• Mass payments
• Install plugin and spend crypto online
• Bitpay is fully compliant and registered in USA

Cons:

• $2,500 withdrawal minimum

6. Coingate

CoinGate allows businesses to accept bitcoin and 70+ cryptocurrencies including bitcoin, Ethereum, Dogecoin, and most recently, Shiba Inu. Accept crypto payments and settle the funds in fiat or trade for other crypto. 

CoinGate has over 289,000 registered users, so it is a popular crypto payment gateway with a good reputation. Customer funds are held mostly in cold storage, which adds a layer of protection.

With CoinGate, a customer will be presented with a choice of cryptocurrencies they can pay with. Then, CoinGate will generate the invoice. The customer pays and the amount is transferred in bitcoin, other cryptocurrencies or Euros. 

You can also set up a recurring email billing option, so you can invoice vendors and partners automatically. 

You can use the CoinGate API to integrate crypto payments to your website, or you can use simple plugins that support WooCommerce, Magento, Prestashop and other e-commerce stores. 

Transactions fees for using CoinGate are 1% and they charge 8% for buying crypto with your credit or debit card. You can withdraw to fiat in EUR or USD only with a 0.2% withdrawal fee for USD and a $250 minimum. 

Pros:

• 50+ cryptocurrencies supported
• Automatic email billing
• Buy crypto with credit/debit card
• 1% transaction fee

Cons:

• No CAD withdrawals 
• 0.2% USD withdrawal fee
• High fee for buying crypto